Playing around with Google Docs. Really powerful stuff there!

Sovereign funding issues comes to India as yields spike by 70 basis points in about a month following the announcement of an increase of INR 530 billion in borrowing programme for the October to March half-year. What is interesting is that two rate hikes of 25 basis points each had no impact. In fact the announcement of a likely pause in the rate hike cycle led to a small drop in yields on October 25. Clearly the bond markets had priced in the rate actions, but were blindsided by the funding announcement.

By the way, if the chart looks all wonky, I am trying to fix it. It is my first experiment with Google Docs. Perhaps there is a setting I am missing here.